The Nasdaq Highs/Lows white line made a lower low than it did at the #SPX 4,114 Low, suggesting we will eventually break below the 4,114 Low. Notice how the Put/Calls remain overbought and are nowhere near as oversold as they were at the 2016 Low which was a 15% drop like now. pic.twitter.com/m0a8NJ7Cl8

— Francis Bussiere (@AstroCycle_Net) March 11, 2022

Gas spending is rising to levels that is likely to further compress consumer appetite, in particular for travel and other discretionary spending. pic.twitter.com/RVjYBozRgV

— Markets & Mayhem (@Mayhem4Markets) March 10, 2022

1/ Quite an eventful day today.

First, it's interesting to see a -0.4% down move in $SPX accompanied by a lower $VIX.

Historically, it's not often that $VIX loses 2 pts on a half-percent sell-off in $SPX (chart below 👇)

It still sits >30, implying daily 2% moves in $SPX. pic.twitter.com/GlNW0epqRO

— Sergei Perfiliev 🇺🇦 (@perfiliev) March 11, 2022

The spread between London and Shanghai nickel futures continues to grow as the LSE remains closed.

Meanwhile, the Chinese-owned LSE has reversed trades which occurred during the squeeze (that transpired before they halted trading completely) bailing out Xiang Guangda and others. pic.twitter.com/eUcXlkd6Pu

— Markets & Mayhem (@Mayhem4Markets) March 10, 2022

The Real Fed Funds rate of -7.8% in the US is the lowest we've seen since 1974. The Fed has lost all of the credibility it gained under Volcker as an inflation fighting institution. They have completely abandoned their mandate to maintain price stability.

Charting via @ycharts pic.twitter.com/UnmrpHFYBw

— Charlie Bilello (@charliebilello) March 10, 2022